Assessment of the Entrepreneur's Contribution to the Efficiency of the Enterprise
DOI:
https://doi.org/10.36683/2306-1758/2023-1-43/33-40Keywords:
entrepreneurs, External directors, board of directors, research of the firms, based on resources, human capital, entrepreneur motivationAbstract
The article substantiates the possibility and value of involving an entrepreneur in the work of certain enterprises outside the narrow framework of the firms they founded as managers with extensive entrepreneurial experience, thereby helping such enterprises to succeed in competition. It is proposed to take into account the size of the enterprise, because a unified approach to appointment of a manager is not suitable for all economic entities. The purpose of the article is to determine the value of attracting entrepreneurs to the board of directors who have created other firms, and their ability to increase the value and efficiency of companies that they have not created. Some enterprises in certain industries are more suitable for management by external entrepreneurs, while in other firms the effectiveness of their involvement will be low. This thesis should form the basis of corporate decisions concerning appointment of external entrepreneurs to their board of directors. Studies have shown that enterprises headed by owners perform better than those run by external professional managers. Based on the resource point of view when analyzing the firm, it was shown that entrepreneurs who have created other firms that act as external directors are more focused on increasing investments in research and development and higher sales growth rates. Their impact on the value of enterprises is greater among firms in industries with intensive use of research and development work and in competitive industries. Such business directors from the outside increase the value of the company due to their risk inclination and ability to anticipate demand patterns and create new markets.Downloads
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